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Hawkins Cookers: A bounce back in operating performance - Views on News from Equitymaster
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  • Nov 10, 2015 - Hawkins Cookers: A bounce back in operating performance

Hawkins Cookers: A bounce back in operating performance
Nov 10, 2015

Hawkins Cookers announced its results for the quarter ended September 2015. While the company reported flat revenues, operating profits moved up by 29% YoY during the quarter. Here is our result analysis for the company.

Performance summary

  • Sales grow by a marginal 1% YoY during the quarter.
  • Operating profits rise by 32% YoY as margins expand by 3.8% YoY led by lower input, advertising and other expenses.
  • Profits rise by 29% YoY.
  • During 1HFY16, revenues remain flat while operating profits grow by 11% YoY.

Financial performance snapshot

(Rs m) 2QFY15 2QFY16 Change 1HFY15 1HFY16 Change
Revenues 1,475 1,489 1.0% 2,447 2,449 0.1%
Expenditure 1,288 1,244 -3.5% 2,152 2,121 -1.5%
Operating profit (EBDITA) 187 246 31.6% 295 328 11.2%
Operating profit margin (%) 12.7% 16.5%   12.1% 13.4%  
Other income 12 7 -43.9% 25 15 -38.9%
Interest 9 7 -22.5% 18 14 -22.2%
Depreciation 7 9 19.1% 14 17 19.6%
Profit before tax 183 237 29.7% 288 312 8.4%
Tax 60 78 30.4% 94 102 8.8%
Profit after tax/(loss) 123 159 29.3% 194 210 8.3%
Net profit margin (%) 8.4% 10.7%   7.9% 8.6%  
No. of shares       5.3 5.3  
Diluted earnings per share (Rs)         63.8  
P/E ratio (x)*         39.2  

* trailing 12 months earnings

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